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China now has 7 of world’s 10 biggest banks as Beijing’s financial ambitions grow

China's 'big four' banks took the top spots in The Banker's latest global ranking, with JPMorgan Chase following in fifth place China's "big four" state-run banks are the largest in the world in terms of asset scale, a new report has found, underscoring Beijing's rising ambitions to build the country into a global financial powerhouse. The ranking released by The Banker magazine on Wednesday was topped by the four Chinese banks - Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China - with JPMorgan Chase following in fifth place. Chinese banks collectively...